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GEA Group AG
Capital/Financing Update • Sep 21, 2012
176_rns_2012-09-21_b8dea5d3-1c9b-4d9c-98c0-eb4d4aa0e226.html
Capital/Financing Update
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Corporate | 21 September 2012 10:00
GEA Group Aktiengesellschaft: GEA places note loan in the amount of EUR 300m
GEA Group Aktiengesellschaft / Key word(s): Miscellaneous
21.09.2012 / 10:00
GEA places note loan in the amount of EUR 300m
Düsseldorf, September 21, 2012 – GEA has succeeded in placing a borrower's note loan of EUR 300 million with a maturity of five years. The placement helps the engineering group optimize its financing structure.
The note loan was placed with institutional investors from Germany and various other countries. As the order book was oversubscribed several times, the interest spread could be fixed at the lower end while the volume of the issue could even be increased.
"The extraordinary demand on the part of debt investors is yet another vote of confidence in our credit standing and performance potential", commented Dr. Helmut Schmale, CFO of GEA Group Aktiengesellschaft. "With this note loan we are taking advantage of the presently positive capital market environment to further extend the maturities schedule of our financial liabilities. GEA is thus enhancing its long-term financing at favorable terms and conditions while at the same time establishing a broader lender base."
The issue is split into a fixed and a variable part. Furthermore, the maturity for a part of the existent note loan of EUR 128m, due in August 2013, has been extended prematurely. Therefore, around 80 percent of GEA's financial liabilities will not become due within the next 3.5 years.
DZ BANK and LBBW acted as joint bookrunners.
About GEA Group
GEA Group Aktiengesellschaft is one of the largest suppliers of process technology and components for the food and energy industries. As an international technology group, the Company focuses on sophisticated production processes. In 2011, GEA generated consolidated revenues in excess of EUR 5.4 billion, 70 percent of which came from the food and energy sectors, which are long-term growth industries. The group employed about 24,000 people worldwide as of June 30, 2012. GEA Group is a market and technology leader in its business areas. It is listed in Germany's MDAX stock index (G1A, WKN 660 200) and the STOXX (R) Europe 600 Index. Further information is available on the Internet at: www.gea.com .
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Contact:
GEA Group Aktiengesellschaft
Phone +49 (0)211 9136 1492
Fax +49 (0)211 9136 31087
www.gea.com
End of Corporate News
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| Language: | English |
| Company: | GEA Group Aktiengesellschaft |
| Peter-Müller-Straße 12 | |
| 40468 Düsseldorf | |
| Germany | |
| Phone: | +49 (0)211 9136-0 |
| Fax: | +49 (0)211 9136-31087 |
| E-mail: | [email protected] |
| Internet: | www.gea.com |
| ISIN: | DE0006602006 |
| WKN: | 660200 |
| Indices: | MDAX |
| Listed: | Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime Standard), Hamburg, München; Freiverkehr in Hannover, Stuttgart |
| End of News | DGAP News-Service |
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| 185933 21.09.2012 |